Bitcoin Price Technical Analysis for 22/7/2015 - The Alarming Momentum Crash
In my previous analysis titled Wide Divergences, I had pointed out some eerie disconnects between the Bitcoin price action and the technical indications. It is highly possible that the price eased a little in order to properly reflect the underlying technical considerations. Bitcoin is currently trading down 1.32% at $275.99. However, I am very concerned about the incessant crash in the momentum reading, which is worsening by the day. A decline in the momentum value in flat trading cannot bode well for the long holders. Read below the technical observations of the daily BTC-USD price....
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